Overview

• Euro zone manufacturing PMI slipped to 49.8 in September from 50.7, with new orders falling at the fastest pace in six months, slower output growth and the sharpest job cuts in three months, according to HCOB/S&P Global.
• Britain’s PMI fell to 46.2, its weakest in five months, as firms reported steep drops in domestic and export demand, auto supply-chain disruption tied to a Jaguar Land Rover cyber-attack, and an 11th month of job cuts.
• China’s official PMI rose to 49.8 but stayed below 50 for a sixth month, while a private S&P Global survey showed expansion at 51.2, reflecting weakness at larger domestic-focused firms and firmer export-led activity; businesses are watching for stimulus and clarity on U.S. trade policy.
• India’s HSBC/S&P Global PMI eased to 57.7, a four‑month low, with slower new orders and output, quicker rises in input costs and selling prices, and stronger optimism linked by firms to GST rate cuts as export demand outside the U.S. improved.
• Across Europe’s majors Germany (49.5), France (48.2) and Italy (49.0) contracted as Spain cooled to 51.5, price pressures eased at the bloc level, and outside the region the U.S. sent mixed signals (ISM 49.1, S&P 52.0) while Canada weakened to 47.7.